Stock market closed: Stock market recovered from three days of decline, Sensex rose by 398 points 

Mumbai. The domestic stock market on Thursday recovered from three consecutive sessions of decline due to strength in global markets and US President Donald Trump’s soft stance on the Greenland issue. The Sensex rose by 398 points while the Nifty gained 132 points. The BSE’s 30-share benchmark index Sensex closed at 82,307.37 points, up 397.74 points or 0.49 percent, amid fluctuations. 

At one point during trading, the Sensex jumped 873.55 points to reach 82,783.18. Meanwhile, the NSE’s 50-share benchmark index, the Nifty, rose 132.40 points, or 0.53 percent, to close at 25,289.90. At one point during trading, the Nifty rose 278.25 points to reach 25,435.75. 

Among the 30 Sensex stocks, Bharat Electronics, Tata Steel, Adani Ports, State Bank of India, Bajaj Finserv, Asian Paints, Power Grid, Sun Pharmaceuticals, Kotak Mahindra Bank, IndiGo, Hindustan Unilever, HCL Technologies and NTPC were among the gainers. On the other hand, Eternal, Titan, ICICI Bank, Maruti Suzuki India and HDFC Bank were among the losers. 

Gaurav Garg, research analyst at Lemon Markets Desk, said, “Indian stock markets saw moderate gains on positive global cues and easing geopolitical concerns.” He said the withdrawal of tariff threats against the European Union and the US President’s positive comments on the India-US trade deal boosted investor confidence. 

In other Asian markets, Japan’s Nikkei, China’s Shanghai Composite, South Korea’s Kospi and Hong Kong’s Hang Seng closed with gains. European markets were trading with a strong trend. US markets had closed with gains on Wednesday. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 1,787.66 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth Rs 4,520.47 crore. 

Vinod Nair, Head of Research at Geojit Investments Ltd, said, “The initial announcements of quarterly results failed to support the current high valuations of the market. However, investors see the possibility of further gains from strong domestic demand, which may become clear in the upcoming quarterly results.” Meanwhile, international oil benchmark Brent crude fell 1.10 percent to $64.52 per barrel. On Wednesday, the Sensex had fallen 270.84 points to close at 81,909.63 and the Nifty had fallen 75 points to close at 25,157.50.